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Turkey in team effort for Iraq push

Turkey has formed three consortia with an eye to bid for oil exploration rights for nearly all big oilfields Iraq is putting on the block next month, TPAO boss Mehmet Uysal said today.

Uysal also said the Turkish company would consider a solo bid in the tenders if Iraq were to adjust the tender process to give such an opportunity to small companies.

Iraq has given oil companies a chance to bid for the rights to explore some of its larger oilfields, but currently only large oil companies can bid for the tenders on offer in next month's round.

Uysal did not say which companies TPAO had teamed up with.

"We've formed three consortia for exploration tenders in Iraq. Talks are continuing with two others. We are working on bids for nearly all the large oilfields at the end of June," Uysal told Reuters in an interview.

He also said Turkey had ended its farming out period for exploration rights in the Black Sea, but that more exploration partnerships could be formed if it an attractive offer was made.

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